Avandia cases are getting ready to settle or explode:
GlaxoSmithKlien is ready to either pay out or be bleed to death in Avandia cases. Recently they agreed to pay $3 Billion dollars to the Feds to avoid criminal and civil penalties and a trial. That case dealt, at least in part, with improper marketing of their defective drug, Avandia. Over the past few years Plaintiff lawyers have gathered and filed over 30,000 Avandia injury cases in a multidistrict litigation. This is because Avandia was supposed to control diabetes but was actually causing heart attacks. Glaxo knew of the heart attack danger but covered it up. Now Glaxo has settled over 10,000 of 30,000 cases in the MDL but is still fighting the remaining 20,000 claims. So far, (above the $3 billion dollars they paid the government), Glaxo has paid about $700,000 in claims to injured patients.
Now the court is getting impatient with Glaxo. The Judge recently gave Glaxo 75 days to settle up at least 85% of the remaining cases or they would be set for trial. It seems pretty obvious to all of us attorneys involved with Avandia, that after paying a $3 BILLION dollar fine and $700 MILLION in damages, Glaxo KNOWS Avandia was a bad drug and should settle the remaining cases.
We will see that Glaxo actually does, but my bet is their bank account is a lot deeper then the remaining cases. If they can pay the government and the first set of plaintiffs 3 billion 700 million dollars, they can settle up with the rest of the poor people they injured!